Landmark Point Loma Retail & Office Center Sells for $8.2M in Rare Ownership Transfer

Canon Street Marine Center, a popular retail and office center in Point Loma Village, has been sold to NorthStar Homes, LP for $8.2 million. The sale includes two adjacent properties at 2810-2832 Cañon Street and 1101-1111 Scott Street. This marks the first change in ownership since the property was built.

Prime Location & Strong Market Appeal

Located just one block from San Diego Bay, Canon Street Marine Center benefits from high foot traffic and a thriving retail and dining scene. Moreover, its proximity to the San Diego Yacht Club enhances its visibility and desirability.

For decades, the property has remained family-owned and 100% leased. In fact, it boasts nine long-term tenants with zero turnover in the past eight years. Given its trophy location, strong occupancy, and flexible zoning, the center stands out as a valuable asset in San Diego’s competitive real estate market.

Expert Representation & Market Insights

“As a Point Loma native, this property has been a part of my daily life for years. Seeing it transition to new ownership marks the beginning of an exciting new era for the center and the community,” said Kyle Clark, Senior Director at Intersection, who represented the seller. “Its legacy as a well-maintained, fully leased asset in one of San Diego’s most desirable neighborhoods will continue under NorthStar Homes’ stewardship.”

Future Plans & Investment Strategy

NorthStar Homes, LP plans to hold the property as a long-term investment, recognizing the strong tenant base and prime location as key value drivers. The new ownership intends to evaluate and renegotiate below-market leases to ensure continued strong financial performance.

Transaction Representation

This sale underscores Point Loma’s strength as a premier commercial real estate market, attracting investors seeking stable, high-performing properties in waterfront-adjacent locations.

For more information about this transaction, contact Kyle Clark at [email protected] or 619-997-9537.